Comscore and TEGNA Sign Multi-Year Agreement for Local Linear and Cross-Platform Audience Measurement
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Understanding audience behavior and preferences is crucial for media companies to attract advertising revenue, which is a primary source of income for broadcasters like TEGNA. The agreement with Comscore enables TEGNA to leverage enhanced metrics that quantify audience engagement across various platforms. This cross-platform measurement is vital for TEGNA to provide advertisers with precise targeting capabilities, thereby potentially increasing the value of its advertising slots and, by extension, its revenue streams.
Given the scale of TEGNA's operations, reaching approximately 39 percent of U.S. TV households, the impact of more accurate data could be substantial. Advertisers are increasingly demanding more sophisticated measurement tools to ensure their investments are yielding the desired results. Comscore's granular insights into linear TV and cross-platform consumption may give TEGNA a competitive edge in securing advertising dollars, especially from companies seeking to optimize their campaigns in the fragmented media landscape.
The financial implications of the partnership between Comscore and TEGNA, while not disclosed, could be significant for both companies. For Comscore, the extended relationship with a major broadcaster enhances its market position as a provider of currency-grade measurement metrics. The adoption of Comscore's services by TEGNA could lead to similar agreements with other broadcasters, potentially increasing Comscore's market share and revenue.
For TEGNA, the ability to offer advertisers enhanced measurement capabilities could translate into higher advertising rates and better monetization of its audience reach. As measurement metrics become more sophisticated, TEGNA's ability to demonstrate the effectiveness of its advertising slots could lead to a more robust bottom line. Investors should monitor the company's future earnings reports for any indications of revenue growth attributable to improved advertising metrics.
The partnership between TEGNA and Comscore signals an industry-wide shift towards multi-platform audience measurement as consumption patterns evolve. Traditional linear TV metrics are no longer sufficient as viewership increasingly fragments across cable, over-the-top (OTT) services and digital platforms.
TEGNA's move to deepen its measurement capabilities reflects the company's recognition of this trend and its commitment to adapting to the changing media environment. The ability to provide a holistic view of audience behavior is becoming a differentiator in the media industry. This partnership could prompt other broadcasters to seek similar solutions to remain competitive, potentially reshaping the media measurement landscape.
Moreover, the emphasis on cross-platform solutions aligns with the broader industry's pivot to CTV and digital, where growth rates in advertising spend outpace those of traditional TV. The strategic foresight demonstrated by TEGNA could position it favorably as these platforms continue to gain prominence in the advertising mix.
Comscore to provide currency-grade measurement metrics for TEGNA’s multi-platform media businesses
RESTON, Va., March 01, 2024 (GLOBE NEWSWIRE) -- Comscore, Inc. (NASDAQ: SCOR) and TEGNA Inc. (NYSE: TGNA) today announced they have reached a comprehensive multi-year agreement on cross-platform audience measurement. Under the terms of the agreement, Comscore will extend its relationship with TEGNA as a key measurement partner in all TEGNA markets, providing it with critical measurement metrics across its local TV, major affiliate, and digital businesses.
TEGNA owns 64 local news brands in 51 markets, making it one of the largest and geographically diverse broadcasters in the U.S. It is the largest owner of Big Four affiliates in the top 25 markets among independent station groups and reaches approximately 39 percent of all TV households nationwide.
Jon Carpenter, CEO, Comscore said, “Comscore is proud to be a valued partner to TEGNA which is known for its trustworthy and impactful local journalism and strong connections to the communities they serve. The combination of our local linear TV data, and our groundbreaking cross-platform solutions will help TEGNA measure the value of their content and deliver outsized value for their advertisers across linear and digital. We're excited to begin this latest phase of our partnership.”
Lynn Beall, EVP and Chief Operating Officer, Media Operations, TEGNA said, “Expanding our partnership with Comscore will offer us deeper insights through digital and qualitative data, enriching cross-platform solutions for our valued advertising partners. We look forward to partnering with our clients to deliver their targeted audiences across any platform with precision and effectiveness to grow their business.”
Comscore's best-in-class local market data provides granular insights into linear TV consumption across all 210 local markets in the United States. Combined with Comscore's leading cross-platform capabilities, TEGNA will have a complete view of audiences — linear, CTV, and digital —as they help advertisers optimize their campaigns.
Financial terms of the agreement were not announced.
About Comscore
Comscore (NASDAQ: SCOR) is a global, trusted partner for planning, transacting, and evaluating media across platforms. With a data footprint that combines digital, linear TV, over-the-top and theatrical viewership intelligence with advanced audience insights, Comscore empowers media buyers and sellers to quantify their multi-screen behavior and make meaningful business decisions with confidence. A proven leader in measuring digital and TV audiences and advertising at scale, Comscore is the industry's emerging, third-party source for reliable and comprehensive cross-platform measurement.
About TEGNA
TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Across platforms, TEGNA tells empowering stories, conducts impactful investigations, and delivers innovative marketing solutions. With 64 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top 25 markets among independent station groups, reaching approximately 39 percent of all television households nationwide. TEGNA also owns leading multicast networks True Crime Network and Quest. TEGNA offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, including Premion, TEGNA’s OTT advertising service. For more information, visit www.TEGNA.com.
For Comscore media inquiries, contact:
press@comscore.com
For TEGNA media inquiries, contact:
Anne Bentley
Vice President, Chief Communications Officer
703-873-6366
abentley@TEGNA.com
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